Monday, September 30, 2019
Classroom observation Essay
I have been observing several elementary teachers during the past eight weeks. All instructors bring into the classroom their individual teaching styles. Within that style there are various and assorted behaviors and actions they performed in their instruction. Most of the teachers observed presented the topic they were teaching. The instructors used teaching aids such as overhead and PowerPoint slides. It helped to keep students on track in the presentation of information. Teachers encouraged class participation in the subject to be taught by asking questions related to the topic. The students connected easily with the material when they could relate it to prior knowledge. Teachers were very organize and interested in communicate with their students. They periodically asked question and made sure students were understanding the concept presented. Students seem to be enjoying the instructional time with their teachers. They seem relaxed, attentive, on task, and actively participating in the subject. I could see that there were hardly any behavioral problems. When students were beginning to lose track of subject, there was one teacher that use humor to bring them back. I run into one exemption when observing a 1st grade teacher. His classroom was not well organized. You could see stacks of papers on different tables. Wall signs were falling down, trash on the floor. Students were the same way. Their desks were full of trash. Their books and supplies under their desk were all over the place. The instructor asked the students to take their language art book out and wrote the page number where they were going to start reading. He had another student controlling the a CD player to star reading along with the CD. It was chotic in that classroom I believe that instructor was not prepare enough to teach this subject and he needs classroom management.
Sunday, September 29, 2019
Nokia: Values That Make a Company Global
STraTeGiC Hr MaNaGeMeNT case study with teaching notes Nokia: Values That Make a Company Global By Geraldine Willigan, MBA Project team Author: SHRM project contributor: External contributor: Copy editing: Design: Geraldine Willigan, MBA Nancy A. Woolever, SPHR Ram Charan, Ph. D. Katya Scanlan, copy editor Terry Biddle, graphic designer à © 2009 Society for Human Resource Management. Geraldine Willigan, MBA. This case was prepared by Geraldine Willigan, MBA, former editor at Harvard Business Review, under supervision of Ram Charan, Ph. D. , former faculty member at Harvard Business School, winner of best teacher award at Northwestern Universityââ¬â¢s Kellogg School of Management, and a regular teacher in executive programs across the globe. The authors gratefully acknowledge the help of Juha Akras, Ian Gee, Antti Miettinen, Arja Souminen, Olli-Pekka Kallasvuo, Hallstein Moerk, Tero Ojanpera and Shiv Shivakumar. Note to Hr faculty and instructors: SHRM cases and modules are intended for use in HR classrooms at universities. Teaching notes are included with each. While our current intent is to make the materials available without charge, we reserve the right to impose charges should we deem it necessary to support the program. However, currently, these resources are available free of charge to all. Please duplicate only the number of copies needed, one for each student in the class. For more information, please contact: SHRM Academic Initiatives 1800 Duke Street, Alexandria, VA 22314, USA Phone: (800) 283-7476 Fax: (703) 535-6432 Web: www. shrm. org/education/hreducation 09-0353 Nokia: Values That Make a Company Global Introduction In the summer of 2006, the global competitive landscape in which Nokia was operating was changing at an astoundingly fast pace. Market growth was shifting to emerging countries, mobile devices were being commoditized, handset prices were declining, networks were combining (Nokia had just merged its own networks infrastructure business with that of Siemens, forming Nokia Siemens Networks, or NSN), Microsoft and Apple were making moves toward mobile devices, new technologies were being developed, and new strategic opportunities were arising as mobile phones were becoming the gateway to the Internet. To win in such a fast-paced and intensely competitive environment, the company had to move with speed and do a superb job of satisfying consumers. Decision-making would have to occur at the lowest possible level to reflect the peculiarities of the local markets while leveraging the power of Nokiaââ¬â¢s diverse people, its brand, its financial resources, and its technology and design expertise. Collaboration between locals and headquarters and among multiple cultures and partners was paramount. Nokia conducted extensive interviews with people inside and outside the company, including partners and suppliers, to understand how Nokia was perceived and how it might have to change. That research informed a number of actions and renewed the focus on Nokiaââ¬â¢s culture and, in particular, its values. From Paper Mill to Conglomerate to Global Brand Nokia, headquartered in Espoo, near Helsinki, Finland, is the worldââ¬â¢s largest mobile handset manufacturer. It holds some 40 percent of the global device market as of the second quarter of 2008. It operates in 150 countries and had more than 117,000 employees, including NSN, as of late June 2008. It is the top-rated brand globally. Annual revenues for 2007 were $74. 6 billion (51. 1 billion euros). The company began in the late 1800s as a paper mill, then evolved into a diversified industrial company and was an early entrant in the mobile era in the 1980s. In the 1990s, CEO Jorma Ollila restructured the conglomerate to focus on mobile phones and telecommunications, and Nokia became the technology and market leader, starting first in Europe, then expanding to the United States and dozens of other 2009 Society for Human resource Management. Geraldine Willigan, MBa 1 developed and emerging economies, including China and India. In the early 2000s, Nokia was briefly challenged by Motorola and Samsung but was able to maintain and soon to increase the lead. In 2006, Olli-Pekka Kallasvuo (OPK, as he is known at Nokia) became CEO. Nokiaââ¬â¢s strategy at that time was changed to c over both the mobile device market as well as services and software. In 2007, Nokia announced that it would become more like an Internet company. Transforming the Culture for the New Challenges As Nokiaââ¬â¢s leaders pondered what would hold people together and enhance collaboration and speed across their large global company, they arrived at an answerââ¬âculture, of which values had long been a foundation. Values align peopleââ¬â¢s hearts and emotional energy and define how Nokia employees (ââ¬Å"Nokiansâ⬠) do business with each other and the rest of the world. Because Nokiaââ¬â¢s existing values had been unchanged for more than a decade and research showed there was some ambivalence about them internally, the executive board, comprised of the CEO and about a dozen senior leaders, decided it was time to re-examine the values. OPK selected a team of people to create a process for doing so. The challenge to the team was to get all the people of Nokia intellectually engaged. In keeping with Nokiaââ¬â¢s culture, the values would have to be the result of ââ¬Å"the manyâ⬠communicating with ââ¬Å"the many. â⬠Assigning this task was not trivial. It required that senior management be committed to live with the outcome. The values that emerged from the bottom up would have to be taken seriously and stickââ¬âor the organization would be seriously harmed. As the team got to work and explored the options, they determined that the best approach would be to combine high tech and high touch. The high-tech part of the values-creation process would be through the ââ¬Å"Nokia Jamâ⬠ââ¬âusing IBMââ¬â¢s Jamming technology that would allow all Nokians to engage in an online dialogue. The hightouch part would come through the use of the World Cafe methodology. The World Cafe methodology had sprung up in the mid 1990s to accommodate a large group of people from diverse disciplines and far-flung locations around the world who wanted to discuss issues of common interest. 2 That group was known as the Intellectual Capital Partners. To create an informal conversation among so many people, participants were divided into small groups seated around tables to discuss a given question. The groups would then repeatedly disperse and individuals would rotate to other tables, so ideas were disseminated, cross-pollinated and combined. As the conversations continued, facilitators compiled the ideas that emerged. The World Cafe methodology had been used in some small pockets within Nokia but had never been tried on a companywide scale. The concept was right, but it was impractical for all 50,000-plus Nokians to directly engage in a dialogue. So the idea emerged to have a subset of people from across Nokia get together to discuss Nokia values with a totally clean slate, as if they were recreating Nokia on the planet Mars. 2 à © 2009 Society for Human resource Management. Geraldine Willigan, MBa A trip to Mars became the metaphor for assembling a cross-section of Nokians to participate in the World Cafe format and create the new values. Nokiaââ¬â¢s Trip to Mars Nokia produced 5,000 elegant, visually exciting invitations that looked like boarding passes and airline tickets. These were sent in bundles through snail mail to people at various organizational levels and functional areas, including HR, in each of the business units. The instruction to the recipients was to find a way to randomly distribute their bundle to people in their offices and factories whom they would trust to have a discussion about Nokiaââ¬â¢s values and culture. The recipients could also keep a ticket for themselves. Each ticket was in a ââ¬Å"walletâ⬠that described what Nokia was doing. It stated the current values and gave instructions for how to proceed, first by going to the Nokia Way web site to learn more and to register for a cafe in their local area. Participants also got two luggage tags, which they were supposed to discuss with their colleagues beforehand: a green one, which represented the values or ideas Nokia should be sure to take with it as the company moved forward, and a gray one, for things that could be left behind. Nokia held 16 cafes in 60 days around the world. More than 100 employees representing a cross-section of Nokia attended each one. The day of the cafe, small groups discussed a predetermined set of questions. One person served as host and stayed at the table while everyone else rotated to other tables, eventually returning to their original spots. People had taken the preparation very seriously and interviewed their teams ahead of time; some brought stacks of paper with various notes and ideas. As the discussions took place, ideas began to emerge and converge. Facilitators captured them graphically and in written scripts. The outputs from each cafe were then uploaded to the Nokia Way web site, and everyone at Nokia had access to it and was invited to comment. Several thousand more employees were able to participate in the dialogue through the means of the web site, giving their opinions and making suggestions and sometimes asking questions they hoped the next cafe would address. The sessions were also videotaped and edited into short video blogs that were so funny and engaging that they logged approximately 30,000 visits. The video blogs, too, elicited comments from fellow Nokians. The mix of people attending the cafes was just what Nokiaââ¬â¢s executive team had hoped for: an assortment of people from offices and factories and from every functional area and organizational level. The cafe process allowed those diverse viewpoints to be heard. Engineers said Nokia needed greater tolerance for risk, for instance, while marketing people wanted more stability. In the process, it broke down biases and misconceptions and began to build social bonds. ââ¬Å"Latin Americans were not the only people with emotions! one participant commented. Another said: ââ¬Å"At first it felt like I couldnââ¬â¢t even find a common language with my Mexican à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 3 marketing colleagues in Nokia. It was exciting when we found a common language and vision, and everybody was on board. â⬠As the cafes took place, four values began to emerge. These were to be presented to the top 30 leaders at the final global cafe to be held in Helsinki. But instead of writing them on a PowerPoint slide, the values were presented in a way that was experiential. Representatives from each of the Nokia Way cafes were chosen to attend, and on day one of the Helsinki cafe, they got together and brainstormed how to make the values come alive. They recreated some of the skits, songs and visual aids their local cafes had generated to express the thoughts and feelings that underlay the values. The representatives from the Finnish cafes built a birdââ¬â¢s nest and a sauna in the hotel meeting room to represent Nokiaââ¬â¢s passion for innovation (the birdââ¬â¢s nest was for the hatching of ideas, the sauna to represent the fire of passion). The next day, the group made their presentation to the senior leaders, and after some discussion, the four values that had came out of the cafe process were affirmed. OPK, who, like many Finnish people, was ordinarily quite reserved, was visibly moved by the intensity and sincerity of the feelings expressed. He felt as though he could hear the voices of Nokians around the world, and he, too, wholeheartedly supported the values. He asked that a representative present them to a group of 150 top leaders that was meeting three or four weeks later as part of the annual Strategy Sharing process. The group selected Ganeas Dorairaju, a native Malaysian who had been working in Finland for the past decade, to represent them. He stood in front of the top leaders and explained the values and the process by which they were created. At the end of it, the audience gave him a standing ovation. One leader wondered if the values could be turned into a catchy tune. Soon after, an employee teamed up with her husband and did just that! Nokiaââ¬â¢s New Values3 Nokiaââ¬â¢s new values and the explanation of them are as follows: n achieving together. Achieving together is more than collaboration and partnership. As well as trust, it involves sharing, the right mind-set and working in formal and informal networks. engaging You. For us, ââ¬Ëengaging youââ¬â¢ incorporates the customer satisfaction value and deals with engaging all our stakeholders, including employees, in what Nokia stands for in the world. Passion for Innovation. Passion for innovation is based on a desire we have to live our dreams, to find our courage and to make the leap into the future through innovation in technology, ways of working and through understanding the world around us. Very Human. Being very human encompasses what we offer customers, how we do business, how we work together, and the impact of our actions and behavior on n n n 4 à © 2009 Society for Human resource Management. Geraldine Willigan, MBa people and the environment. It is about being very human in the worldââ¬âmaking things simple, respecting and caring. In short, our desire is to be a very human company. The world cafe process generated values that are different and more open-ended than most companiesââ¬â¢. As leaders at Nokia note, the values require discussion. People might not know right away what ââ¬Å"very humanâ⬠means, but once people start to discuss it within the context of Nokia, it becomes very clear. People do, in fact, have those discussions. They use them to say, ââ¬Å"Hold on a minute, is this engaging you? Are we meeting that value in what weââ¬â¢re doing? â⬠ââ¬ËVery Humanââ¬â¢ is closely associated with technology; it reflects the fact that Nokia has to develop devices that are easy to use. And ââ¬ËAchieving Togetherââ¬â¢ is about customers and suppliers as well as fellow Nokia employees. ââ¬ËAchieving Togetherââ¬â¢ also helps remove the fear associated with being an industry pioneer. The values are aspirational but also model what was already working well at Nokia. In India, for instance, where Nokia has built a dominant market position of some 75 million subscribers in a very short time, the values were evident before they had been articulated, which likely influenced the input of the three cafes conducted in that country. One of the key factors that drove business success in India was the distribution system, which Nokia and its business partner, ATL, built from scratch when large consumer electronics retailers declined to carry mobile phones because of their low margins. Working together to find an alternative, Nokia and ATL hit on the idea to mimic the small (sometimes just 5 x 5 feet) kiosks that are found in villages across India from which vendors sell fruits and vegetables. They recruited individuals interested in running their own kiosks, trained them and ensured they would have products in the right quantities and at the right margins for those vendors to make a living. The Nokia team wanted to be sure that whatever arrangement they designed would benefit Nokia, ATL and the individual mobile phone vendors. That way, they would Achieve Together. The Nokia team in Indiaââ¬âa mix of native Indians and technology and other experts from such far-flung Nokia locations as Finland, China and Indonesiaââ¬âcollaborated in listening to and observing people in various parts of India to understand their needs. Their approach was collaborative and Very Human. As a member of the leadership team in Nokia India explains, ââ¬Å"One thing that Nokia prides itself on is that it is not arrogant. That comes across in every interaction. People never take for granted that they know everything. Because of conditions in parts of the country, Indians needed a mobile device that was dustproof and didnââ¬â¢t slip out of sweaty hands. They wanted a device that could be an alarm clock, radio and flashlight (or ââ¬Å"torchâ⬠) as well as a phone. Nokiaââ¬â¢s Passion for Innovation drove the team to find the technology solutions Indians needed. Nokia found that the process of creating values itself had merit. It allowed the many to connect with the many and demonstrated that heterarchy was more important than hierarchy. It captured Nokia employeesââ¬â¢ understanding of the challenges they were facing personally and organizationally and their desire to create an organization à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 5 that could meet them. It also reflected the spirit of bonding across cultures, functions and silos. As a member of the executive team says, ââ¬Å"It is proof that a strong global corporate culture is possible. â⬠The next order of business was to track the effectiveness of the values. To that end, the company has created a number of vehicles. Nokia includes values in its annual employee survey, ââ¬Å"Listening to You,â⬠and made them a key part of the change pulse survey it undertook during a recent reorganization. The suggestion arose to have pictures to demonstrate the new values, so the company staged an employee competition for photos that represent the values. Photos were posted online, and employees voted for their favorite. The top prize went to a quality manager in one of Nokiaââ¬â¢s Chinese factories, who got to accompany Nokiaââ¬â¢s brand people on a photo shoot in Paris. Given the quality of Nokiaââ¬â¢s artistic skills, it was a choice prize. More than 22,000 employees took part in the competition, and Nokia has a rich bank of photographs to represent the new values. Nokians now are learning to create 90-second films that tell how values are making a difference in their work. These films can be uploaded to a video hub where fellow employees can view them. As of October 2008, more than 60 films had been uploaded to the internal VideoHub, and they have had over 50,000 viewings. 6 à © 2009 Society for Human resource Management. Geraldine Willigan, MBa Teaching Notes Global companies require the alignment of their employees and partners not only on the strategy itself but also on the values needed to make that strategy successful. Values reflect and shape corporate culture. A shift in strategy often requires a shift in values. The Nokia case explores the connection between values, strategy, and the collaboration, innovation, speed and flexibility that are required for Nokia to succeed. Nokia is a very large company, with one of the highest brand recognitions in the world. It has the rare ability to design a new strategy and reshape its culture to deliver the strategy at the same time. The Nokia case describes Nokiaââ¬â¢s social process for achieving alignment on valuesââ¬âa component of corporate cultureââ¬âacross geographies, silos and hierarchical levels. The learning objectives of the case are as follows: n note NOTE note Instructorââ¬â¢s Note Distribute only pages one through sixNOTE case study document to of this students. A PDF version of this document is also available online for your convenience. To learn the social process of engaging multicultural, multi-country employees in generating and agreeing on a set of values. To concretely demonstrate one way to build a workforce receptive to crossfunctional, cross-cultural teaming that can therefore make fast, high-quality decisions and increase the organizationââ¬â¢s flexibility. To probe and deepen understanding of the relationships between strategy, culture, values and business outcomes. To encourage participants to brainstorm alternative ways to engage employees and accomplish similar results. To challenge participants to think critically about whether Nokiaââ¬â¢s approach to creating values can apply to other business issues. n n n n The case is appropriate for graduate students in higher-level HR courses and for HR professionals at the highest levels. à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 7 The classroom instructor might want to pose the following questions for discussion: 1. Why did company management choose values as a foundation for taking the culture to the next level? Nokia needs collaboration because it must routinely leverage its technology platforms, global brand and manufacturing footprint, experience base in multiple countries, and in-depth knowledge of consumers and the marketplace. While individuals must have some degree of freedom to act, they cannot know everything or understand in depth all of the implications of various trade-offs that must be made in the ordinary course of business. As people come together to exchange information and make trade-offs, they must also have a common glue to hold them together. Values can be a uniting factor; they can be the glue. In the process of creating values, discussions touch on other topics, such as strategy, management style, opportunities, competition, priorities, and the inadequacies of organizational structure and reward systems. Values can fill in the gaps or provide what formal mechanisms missââ¬âfor instance, they can support open communication outside of formal reporting relationships. 2. What is your view about the four values the cafe approach produced? Note that they are few in numberââ¬âfour instead of 12. They describe the kind of company many people would like to work for. They can be applied in the real world and are relevant to any job function or organizational level. They are in keeping with requirements for Nokia to succeed. They capture the sense of higher purpose and human dignity people long for in their personal and work lives and therefore encourage positive, authentic behavior. 3. How do Nokiaââ¬â¢s values compare with those of your company? Graduate students can compare with a company they are familiar with or one the instructor presents. One option is to look at the values of a competitorââ¬âfor instance, Apple, given that Apple is now going into the cell phone business. Consider whether people ââ¬Å"connectâ⬠with the values, or whether the values are too abstract or too generic to be meaningful. How many are there? Are they actually practiced? Do they relate to company strategy? 4. How will Nokiaââ¬â¢s values help execute the change in business strategy? The process and content of the values build trust, making people more receptive to information and ideas from elsewhere in the company. Information flows are likely to be nonhierarchical. Nokia should therefore be able to innovate and respond to change better and quicker. Take, for example, the value ââ¬Å"achieving together. â⬠This value is now fully socialized at all levels in the company. It gives a lower-level person the freedom to call a higher-level person for collaboration and expertise where needed. By reinforcing this behavior, the values help break hierarchies, silos and other barriers. 8 à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 5. concisely define the behaviors that were stimulated through the cafe approach at Nokia. What information channels got opened? Individuals took time to think about the company and how it does and should operate. They expressed their ideas, knowing their ideas could have wide visibility and make a difference. Before attending the cafes, people sought input from their peers. Participants listened to the views from many other employees. They sought commonality among the viewpoints. They experimented with creative ways to express their ideas. Employees became excited about the company and renewed their emotional commitment to it. Information flowed across boundaries. Because participation in the value creation process required no special knowledge, every participant was on equal footing, including newer employees, whose fresh ideas and energy got released. Thus, information flowed up even from some of the youngest Nokians, who represent the future of Nokia. 6. Whatââ¬â¢s your evaluation of the social process for engaging thousands of employees across the globe in defining the values? It was an efficient way to engage a broad, diverse set of people. The ready acceptance of the values (the output) indicates that the process was effective. It mirrored the patterns of communication and cooperation in a matrix organization. 7. What does Nokiaââ¬â¢s cafe process say about its senior leaders? The senior leaders were secure about their role in the company and heir personal power. Once they committed to the process, they had to be prepared to accept the output. They also had confidence in Nokia employees. They were willing to ââ¬Å"let go. â⬠Senior management of any company should not feel insecure about the outcome of the bottom-up process. Because the process is open, it has built-in sincerity. People want to do the right thing. Also, broad participation is a check against a few radicals who want their way. 8. If Nokia were to use the cafe process again in 2010, what change in values would you anticipate? The outstanding goal of this process is to produce a set of values that are enduring. If the company were to do it again, the values themselves might not be very different, but they might be deepened or tweaked because people will have examples of how they have been used, or not used. The exception is if Nokia were to make a 180-degree change in strategy direction. Then some new values might be needed. If such new values did not emerge through this process, consider whether the strategy shift will succeed. Also consider how the outcome might be different if some regions are far more successful than others going forward, and how working relationships might be affected. Consider, too, the values of younger people who will be entering the workforce around that time. à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 9 The instructor needs to press participants on how concrete the values are, how engaged the people are, what are the pros and cons of having values cascade upward, why this process generates energy, and how management can measure whether the values are indeed being practiced and having the intended results. The instructor can jumpstart discussion by dividing the class into eight small groups and having each group discuss one of Nokiaââ¬â¢s four values, addressing the following: If the group participants were the leaders, how would they ensure that the value takes deep roots and builds a superb social fabric while at the same time improving business results? The instructor may choose to broaden the discussion to explore issues around new theories of organization and management, such as Enterprise 2. 0 and the use of Web 2. technologies that promise to overcome the bureaucracy associated with hierarchy and make the organization more agile and productive. 4 What some people refer to as Enterprise 2. 0 or depict as a flat organization includes the direct exchange of information among people at lower organizational levels and bottom-up decisionmaking. Nokiaââ¬â¢s value-creation process is representative of this new way of engaging employees and doing business. The following questions c an prompt discussion: n Is there a negative side to mass participation, or connecting the many to the many? Lack of knowledge or commitment can cause people to generate bad ideas that nonetheless gain momentum. Senior management will appear to be heavy-handed if it derails or ignores them. The major risk is when management is not trusted by employees, is erratic or seen as incompetent. Under those conditions, this process will fail. If that failure gets the attention of the board, which in this day and age is likely, the board might well insist on a change in management. Good management should learn from anything that comes in that does not match their expectations. In what situations, or for what issues, does a cafe-type approach work or not work? Any time a new leader is starting to take charge of a unit or company, cafe-type approach is a fantastic tool to energize and align people and hear whatââ¬â¢s on their minds. This could be used to generate ideas around any particular topicââ¬âfor instance, to gather ideas for coping with the global financial crisis. Do you think employees want to weigh in on all issues? In this knowledge worker society, tapping everybodyââ¬â¢s brain and energy can create momentum and be a competitive advantage. People want to participate. There may be some managers who donââ¬â¢t want to hear what people have to say. The blockage tends to be from management, not the employees. n n 10 à © 2009 Society for Human resource Management. Geraldine Willigan, MBa n How do you know if the masses are generating a better or more authentic solution than a smaller number of experts? The adoption and application will reveal the validity of the solution. Letââ¬â¢s remind everybody that ââ¬Å"expertsâ⬠are also employees. All experts can learn from the front lines. Experts also can be narrow. An open process will surface those conflicts in point of view. In a fast-moving, highly volatile environment, it is hugely important to draw those conflicts to the surface and get them resolved. Even if the outcome is not better in some absolute sense, it will be better accepted. to what extent does engagement affect business performance? How can you measure it? An employee audit or pulse survey are common tools to measure engagement as well as perception of business performance beyond financial numbers. Have people shown more commitment? In this case, the value of achieving together might be evident in shorter decision cycle times. n à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 11 For Further reading Lawler, E. E. III, & Worley, C. G. (2006). Built to change: How to achieve sustained organizational effectiveness. San Francisco: Jossey-Bass. Shirkey, C. (2008). Here comes everybody: The power of organizing without organizations. New York: Penguin. Charan, R. (2007). Know-how: The 8 skills that separate people who perform from those who donââ¬â¢t. New York: Crown Business. McGregor, D. (2005). The human side of enterprise. New York: McGraw-Hill. Hamel, G. (2007). The future of management. Cambridge, MA: Harvard Business School Press. Goldsmith, M. (2007). What got you here wonââ¬â¢t get you there: How successful people become even more successful. New York: Hyperion. 12 à © 2009 Society for Human resource Management. Geraldine Willigan, MBa endnotes 1 For more on the history of Nokia, see ââ¬Å"The Story of Nokiaâ⬠on the Nokia web site, www. nokia. com/a4303001. For more on the World Cafe methodology, see www. theworldcafe. com /reading. htm. Nokiaââ¬â¢s earlier values are as follows: 2003 n Customer Satisfaction n Respect n Achievement n Renewal 1992 n Customer Satisfaction n Respect of Individual n Achievement n Continuous Learning 3 4 For more on theories of organization, see, for example, Andrew P. McAfee. (2006, Spring). Enterprise 2. 0: The dawn of emergent collaboration. MIT Sloan Management Review. à © 2009 Society for Human resource Management. Geraldine Willigan, MBa 13 SHrm members can download this case study and many others free of charge at www. shrm. org/education/hreducation/pages/c ases. aspx. If you are not a SHrm member and would like to become one, please visit www. shrm. org/join. 1800 Duke Street Alexandria, VA 22314-3499
Saturday, September 28, 2019
Planning functions of management Essay Example | Topics and Well Written Essays - 750 words
Planning functions of management - Essay Example However, Nestle usually plans for some period of time. Three to five years are more typical planning horizons. As one of the most important functions of management, planning process is based on stipulated criteria and procedures which have a great impact on planning processes. Criteria such as reduced cost, improved quality, improved sense of direction, better teamwork, and improved service delivery might be used. The timing of any evaluations should also be considered. In Nestle, the plan involves deciding upon how resources will be used to help the organization achieve its strategic goals. It relies more on past records and involves shorter time periods. Present conditions are usually dominant in the planner's mind when the organization initiates a plan and these may be overstressed. Also, many events are obviously unforeseen, but planning can be aided by techniques giving suggested probabilities of events taking place (Bateman, Snell 2004). In Nestle, a special attention is given to product quality and product standards. This policy is important because Nestle produces a wide range of food products from coffee, beverages and ice-cram to infant food and pet food. The responsibility of companies in food industry is to analyze social conditions and possible threats of their products for potential consumers. They should be well aware of regulation changes and should not sell a product which can be injurious to health. In order to meet high standards and quality, Nestle constricts its activities according to legal regulations and requirements stipulated by EU for European countries. Also, planning process include analysis of the macro-environment (e.g., economic trends, inflation, changes in citizen needs, changing demographics, etc.), the government environment (especially changing federalism and state government trends), the competitive environment (the present and potential competition, particularly as related to economic development), the citizen environment (what the service user says), and the organization's internal environment (e.g., is there antiquated technology, high turnover, many people planning to retire soon) (Boone, Kurtz, 1992). Environmental scanning will also identify a variety of factors, both internal and external to Nestle, to be considered as part of the planning process. In fact, one of the benefits of planning is that an organization will gain a better understanding of how environmental scanning should be done and be able to manage more effectively as a result. Factors to be considered as part of the macro-environmental scanning process include social factors such as demographics, financial factors such as interest rates, and political factors such as increasing government deregulation, changing federalism and state government's trends, and regulations (Campbell, 1997). Among the factors to be considered as part of the government environment are the number and locations of other governments, the degree of federal and state government presence, the typical services being provided, and the marketing strategies of other competitive local governments. Ethics and corporate social responsibilities affect all decisions and plans developed and introduced by the company. From the very beginning, Nestle clearly informs customers about threats and possible impact of products. Ethical guidelines and social responsibi
Friday, September 27, 2019
Manufacturing technology Coursework Example | Topics and Well Written Essays - 4500 words
Manufacturing technology - Coursework Example The fuel is then compressed and burnt after which it is expelled. Al the fuel is then moved through the cam or pop shaft, this is then moved to the gear and finally to the tires. An automotive piston that is found in the gasoline engine can withstand temperatures of up to 573K. There is a coolant that runs through the engine block and it always has a temperature of 363K. The piston must be cold when it is fixed into the cylinder. The piston can withstand high pressure of up to 10KPa inside the cylinder. It can withstand different atmospheres; it is able to do well in high latitude as well as low latitude. However in high humidity the engine uses less fuel as compared to low humidity. 1 There are several materials that can be used to make an automotive piston. Some of this include aluminum and copper alloys. The material to be used should be able to withstand high temperatures to start with. This is because the temperature of the engine is too high and so the material has to be able t o withstand this without melting or having to expand a lot. The material also has to be able to withstand high pressure. A material that does not withstand high pressure cannot be used in the engine because of the high pressure that is experienced in the engine. Due to its high melting point and its ability to withstand high pressure and stress, the ideal material to be used is aluminum. ... The best however is the assembly of all the piston pins and rods. Before the assembly, the con rod is taken and there bores arranged in a parallel manner. This arrangement ensures that there is no bending of the cones when they are finally in use. Lubrication is another factor that is necessary. Before the pins are assembled in the cones care is needed to lubricate the pins to ensure that there is less friction between the pins and the cons. For the piston to withstand corrosion and abrasion it needs to be smoothened at the surfaces to make it look more clear and new. For better selection of which type manufacturing process is needed, CES process is used. The physical advantages as well as the cost of the processes are looked into. The software then gives out the best process to be used in terms of the cost and the mechanical advantages that it has to offer. Different methods contain different advantages but the best one that is used here is the manufacture by the powder rod technolo gy. This process is the simplification of the sinter and the extensional press processes. During the (PPAP) process no heat or even spark should be removed so the forging is done in completely heating and when it is totally enclosed in the dies. Two forms of forging are necessary these are the hot upsetting and the hot repressing. In the hot upsetting, the there is a significant amount of lateral flow. The production per part approval process is the manufacturing process that was used here. This process has been approved by various agencies in the government as well as many institutions of higher learning. Unlike the (APQP) which has been used in the development and automotives for the many years, (PPAP) has few failures when it comes
Thursday, September 26, 2019
Protecting the border Essay Example | Topics and Well Written Essays - 500 words
Protecting the border - Essay Example Those who favor amnesty for illegal aliens, specifically those crossing the southern border do not seem to realize that a crime has been committed and not, as they might have you believe, one without a victim. The massive numbers of illegal aliens pouring across mainly the southern border has and continues to cause substantial economic, social and physical harms to legal citizens. These harms occur predominantly to those who are among the most vulnerable segments of the population, minorities, children and the poor. Simply enforcing the laws presently on the books and deporting illegal aliens is an economic necessity that would also result in decreased crime rates. Illegal immigrants have already broken the law upon arrival into the country and a considerable number break more including selling drugs, theft, murder, rape, etc. while in the country. Illegal immigrants receive more from public monies than they contribute which lowers the standard of living for legal citizens. Illegal immigrants contribute greatly to the overall population growth and health care, education and employment are the most impacted. Salaries are driven down by illegal immigrants willing to work for much less while their children, illegal and legal, overcrowd the schools. Itââ¬â¢s the U.S. taxpayer who is sent the bill for their health care services as well. In addition, the large influx of illegal aliens burdens the already inadequate number of units classified as affordable housing and other welfare resources such as energy, water and land usage. Those that support amnesty of illegal aliens currently in the U.S. argue that deportations would result in the splitting of families. Children born in this country could stay but their illegal parents would have to leave. They also express that it would be unfair for a child that has lived in the U.S. all their life to be suddenly thrust into the conditions of a third world country.
Wednesday, September 25, 2019
Grafting Term Paper Example | Topics and Well Written Essays - 1500 words
Grafting - Term Paper Example Grafting of appropriate plants result in improved hardiness in plants, hardiness refers to the ability of a plant to endure harsh climatic conditions. Through successful grafting for example, the showy Western Australian plants currently can resist the heavy soils common in urban centers (Core, 2005). Grafting has succeeded developing appropriate plants that fit different ecological conditions prevalent in different parts of the world. As discussed earlier, grafting conjoins two unique plants together thus resulting in the development of a unique new species. The resultant species benefits from the productive features of both the stock and the scion. In most cases, the stock always provide effective adaptive features of the root to enable the new plant survive in particular conditions while the scion provides effective foliage and flowing features that improves the productivity of the resultant plants. Precocity is a unique ability introduced only through grafting. It refers to the process of inducing productivity in plants without necessarily undergoing the juvenile stage. Introducing a scion in a stock disrupts the growth patterns of the resulting plant. Among the major advantages of the disruptions is that most of the plants bypass juvenility a period of growth and maturity in the plants. By passing the stage, the plants immediately begin producing fruits. This increases the profitability of agribusiness by shortening the time that fruit plants take before becoming fruitful. Bypassing the stage of juvenility is fundamental in agribusiness owing go the length of the duration, juvenility may last up to nine years in different plants. Bypassing the stage safeguards the quality and productivity of the plants since the new plat is likely to perform better than the two parent plants while doing so within the shortest time possible.
Tuesday, September 24, 2019
Charateristics of the Gifted Learner Essay Example | Topics and Well Written Essays - 1000 words
Charateristics of the Gifted Learner - Essay Example The discourse presented by the National Association for Gifted Children (NAGC) defines gifted students according to one which is stipulated in the Elementary and Secondary Education Act, to wit: ââ¬Å"Students, children, or youth who give evidence of high achievement capability in areas such as intellectual, creative, artistic, or leadership capacity, or in specific academic fields, and who need services and activities not ordinarily provided by the school in order to fully develop those capabilitiesâ⬠(National Association for Gifted Children, 2008, par. 1). With manifested innate and extraordinary talents and skills, these gifted students need academic interventions that would further develop their capabilities to maximum levels. In this regard, the current essay would use two constructive and two non-constructive characteristics of the Gifted Learner from the graphic organizer and provide definitions of the characteristics and a discussion of their impact on instruction. ... Constructive Characteristics Gifted learners have generally manifested characteristics which could be grouped according to: ââ¬Å"(a) the diversity of areas in which performance may be exhibited (e.g., intellectual, creative, artistic, leadership, academic), (b) the comparison with other groups (e.g., those in general education classrooms or of the same age, experience, or environment), and (c) the use of terms that imply a need for development of the gift (e.g., capability and potential)â⬠(Johnsen, 2006, par. 6). From among the constructive characteristics of gifted learners, two would be expounded in the current paper: (1) they may show keen powers of observation and a sense of the significant; they have an eye for important details; and (2) they often have a large storage of information about a variety of topics, which they can recall quickly. Keen powers of observation, the ability to sense the significant details and possessing an eye for important details fall under exem plary intellectual ability. Appendix A shows details of general intellectual abilities of gifted learners which are products of diverse researches from different scholars. From the list enumerated by Johnsen (2006), the following parallels showing keen powers of observation and focus on significant and important details, in addition to their ability to store and recall large amounts of information: Has an extensive and detailed memory, particularly in an area of interest. Is able to identify the important characteristics of new concepts, problems. Has a broad base of knowledgeââ¬âa large quantity of information. Understands abstract ideas and complex concepts. Observes relationships and sees connections. Works conscientiously and has a high degree of concentration in areas of interest.
Monday, September 23, 2019
Corporate Strategy Essay Example | Topics and Well Written Essays - 1500 words
Corporate Strategy - Essay Example tinuous corporate process which examines the corporate business status and the industry competition in which the corporate is operating in, assessing the competition and setting goals and strategies to meet new challenges. (David, 1989) This paper will therefore look into a mini case for Starbucks Company which is trying to enter the Indian market. The main issues that will be addressed by the paper will be; entry problem and market entry analysis using porters 5 forces model. It will finally give a briefing note on the case. In the recent past, trading has become increasingly global in some way because of the need to gather and increase the companyââ¬â¢s financial base. To achieve greater investments and better market opportunities in the international market, companies are opening new branches in different countries. Starbucks Company is one of the companies that are expanding its market and it has targeted the Indian market. Starbucks Corporation is an American company based in Washington, which buys makes and sell coffees and coffee drinks in many of its international retail outlets chains. Starbucks started as a seller of packaged high quality coffee, today Starbucks has developed to become one of the best companies known for its coffeehouses, giving its customers a place to buy beverages and other food items in addition of the packaged whole bean coffee. The company is given credit on changing how people in America and the world all over perceive and take coffee. (Business Week, 2007) In relation to its expansion plans Starbuck has been eyeing the Indian market which is among the biggest markets in Asia because of the high population the country has. However, the government of India have been taking time in allowing the company to enter the Indian market. Starbucks Company had intended to have a joint venture with an Indian company named New Horizon. New Horizon Company already operates 45 Starbucks retail outlets in Indonesia. The joint venture was a
Sunday, September 22, 2019
Economic Development Record Essay Example for Free
Economic Development Record Essay Economies all around the globe develop over time depending on the policies that they undertake to utilise the resources within their boundaries. Nations that utilise their resources experience economic growth and there is great inflow and outflow of goods and services in those nations. Economic growth means that the nation is utilising its resources efficiently and this has resulted into increased productivity within the various sectors of the economy. Industries within the nation increase as a result of the improved economic performance that will result to the creation of more employment opportunities hence reducing unemployment levels in the nation (Daquila 2004). Due to the increase in the number of industries and output in the already existing industries, employment opportunities increase and this brings about a reduction in the number of citizens unemployed. Unemployment is very crucial in calculating a nations GDP which is an indicator to a nations performance. Economic growth depicts an increase in pa capita income. This is the income associated with every individual in the economy although they may not have it in their possession (Daquila 2004). Pa capita income is calculated by dividing the overall value of the economy proportionately divided between the nations overall economy. On the other hand, Daquila (2004) defines economic development as the improvement in the livelihood of individual citizens of a nation together with that of the systems that are in place in the nation. A nations system involves economic, political and social framework from which the economy operates in. All the above plus economic growth defines economic development. Economic performance is measured using various tools that include GNP and GDP. GDP estimates the economic performance giving consideration to internal and external trades (Daquila 2004). In establishing the GDP, consideration is given to consumption in the nation, expenditure by the Government, investments in the nation, trades in the nation that is imports and exports. Consumption comprises of perishable non-perishable goods and services within the nation. In determining the non-perishable goods they are assumed to be products that will last for a period of three years from the date of manufacturing. GNP refers to the difference between imported products and services and the exported products. The value of this difference added to the value of products services generated within the economy results to the GNP. To evaluate the economic performance of a nation, a number of indicators are used to measure exactly how the economy is progressing towards its economic objectives. A nation has to determine the level of consumption of its individual citizens (Todaro 1997). The level of consumption means the proportion an individual spends after receiving their income. The remaining part of the income is saved. The consumption level of a nation determines the amount of savings in the economy. Savings on the other hand, stimulates growth in the economy. When individuals increase their savings, the financial institutions hold more money thus the cost of accessing funds is low. Business entities in the nation are able to access funds at a low cost from the financial institutions. The borrowed funds are used for the expansion of business operations across the industries within the economy. The expansion of business activities results to an increase in national output and employment (Munk OHearn 1999). The increase in national output increases the exports of a nation in respect to its imports. The resulting balance of trade will be positive hence the nation has more in terms of foreign reserves that will assist them when it comes to purchasing produces from other countries. Therefore, savings are very vital for the improvement of the performance of an economy. T o induce savings in the economy, the opportunity cost of saving has to be high so that individuals can adopt a trend of saving since they are compensated bountifully for foregoing consumption. It can be concluded that increase in savings results to an increase in investments that contribute towards the growth of an economy. Increased activity within the economy results to an increase in production levels of the economy (Ros 2000). The nation is able to produce more products services, that are able to meet the needs of the nations population. Since the products are locally manufactured, they are quite affordable thus individuals are able to spend less and save more. This results to an increase in the real income that individuals have in their pockets and are ready to spend. It should be noted that increased production has to be met by equal consumption otherwise it could result to losses that will hurt the economy. Depending on the expansion of the economy, rates of unemployment adjust themselves in more or less the same rates. Increased production will require an increase in manpower that will be able to maintain the production levels. Nations with large populations face a major challenge in absorbing its citizens in the workforce. Individual citizens for a start need to have the relevant skills required to perform in different industries. Education in these economies has to be committed and directed towards instilling individuals with the necessary skills that will be useful in rendering service to the various sectors of the economy. A skilled population results to economic development since the individuals are prone to exercise their skill base towards living a better life thus contributing to the economys growth. Economic development depends also on the expenditure of the nations authority (Preston 1999). The government consists of various departments that oversee the implementation of policies that improve the state of the economy. These departments are given the financial power to implement and improve on the various economic aspects for example the development of basic infrastructure within the economy. In improving the infrastructure, the government releases money from its coffers to the public. This way, the supply of money increases to equal its demand. In most cases, when the Government spends on its development programs, money supply is more than the money demanded. If this situation is allowed to go unchecked it might result to inflation and later to stagflation; a situation where both the unemployment and inflation rates are so high. Therefore, Government involvement in an economy has to be considered carefully when undertaking development projects. Increased rates of production in an economy increases the output levels that may go over and beyond in meeting the local demand. Having satisfied the local demand, excess products can be exported to other nations. This facilitates international trade where nations exchange commodities they have in excess for commodities they do not have. Nations should avoid importing more and exporting less as this leads to a negative trade balance. This means that the nation spends more in foreign currency than it receives. Third world and developing nations should consider the above variables if they are to achieve spurred economic growth. They most important is to ensure that their population is skilled so that they can utilise their skills by establishing some income generating activity that will create employment opportunities and increase the total production of their economy. MALAYSIA. The present day Malaysia attained independence in the 1957 from the British administration and accorded the sovereign status in 1963 (Malaysia 2008). The Britons established themselves in early 1880s and later went on to control the state by establishing a self governing authority for the Malaysian people. The Federal States of Malaysia were incorporated in the 1895. The states were under the British control until when the Japanese invaded in 1942. Britain waged war over Japan and in 1945 the states where reinstated under the jurisdiction of the British. In 1948, guerilla movements begun protesting against the colonial authority that resulted to an emergency declaration. In 1965, the Federation state of Singapore disintegrated from the member nations opting for self governance. 1957 saw the attaining of independence of the Federation from the British authorities. In the late 1960s, the Malaysian government sought to balance the economy among its nationals so as to attain economic development by equal distribution of national wealth among its constituent communities (Malaysia 2007). Malaysia has got a rich culture that is evident from its diverse communities and language speaking citizens. Its population consists of Chinese speakers, Indians, English, among other languages (Malaysia 2007). The large population consists of Malaysian natives alongside Chinese, Indians and other local communities. Malaysia consists of individuals who practise different religious beliefs that include Hindu, Islam, Buddhist, Sikh among other religions. The richness of Malaysia presents it with a competitive workforce than any other nation in the world. The improved economic performance of Malaysia is as a result of a united people from different cultures and not allowing politics to ruin their nation. Malaysia has had to maintain a united nation and focussing on the togetherness of the nation by avoiding self interests. Malaysia is enriched with natural resources that include crude oil and that it has had to deal with the resource in a careful manner to avoid the negative repercussions that result from the unfair distribution of natural resource gains. Gross Domestic Product (GDP). The GDP reflects the total activity in the economy. This considers both the public and private sectors of the economy and their contribution towards the development of the economy. It also takes into consideration the behaviours of the citizens in regards to spending. Malaysias GDP has been increasing constantly from 1998-2008 at a rate of 6- 9 per cent. In 2007, the GDP stood at $357. 4 billion. Malaysias population is slightly higher than 26 million thus giving a pa capita income of $13,300 (UNDP 2008). The GDP in 1986 was at $28. 2 billion. The GDP increase signifies an increase in all major facets of the economy. Government spending has increased from 16. 4 in 1986 to 12. 0 in 2006. The Governments decision to reduce its spending avoids the negative impacts that result when money supply is more than the money demanded in the economy. Key sectors of the economy that have immensely contributed to the GDP are industrial sector that has been a leading contributor since 1986 to 2006 with a percentage of 49. 9 compared to 38. 5 in 1986. Manufacturing follows a close second with 29. 8% in 2006 from 19. 3% in 1986. The provision of services has also reduced from 41. 7% to 41. 3% in 2006. Lastly, agricultural sector has reduced its contribution to the GDP from 19. 8 per cent to 8. 7 per cent in 2006 (Malaysia 2007). The above data shows that the economy has shifted its dependency on agriculture as a contributor to the GDP. The economy has shifted its focus mainly from agriculture to industrialization where industries are the main contributors to the GDP. Industrial growth is a major boost to the Malaysian economy since it increases the nations production ability and is able to meet the demand of the nations internal demand. This has elevated Malaysia to an industrialized nation due to its potential ability to the production of services products. These increased production levels are able to meet local and international demand hence receiving foreign currencies that will result to a positive capital account. National Consumption and Savings. According to the World Bank report, the percentage of consumption by the citizens that was used in calculating the GDP decreased from 54. 2 in 1986 to 50. 3 in 2006. That of the government decreased from 16. 4 per cent to 12. 0 per cent . The mean growth per annum indicated the citizens consumption had decreased from 9. 1 to 7. 0 and Government spending reduced from 6. 5 to 5. 0. The figures show that both the Government and individuals in the nation have adopted a behaviour of saving or reducing their spending habits. By reducing spending, more is saved with the nations financial institutions as the individuals are compensated for foregoing consumption. Savings spur growth in the sense that investors will borrow funds and expand their business activities that will result to an increase production. The increase in production across the industry results to increase in the national output. An increase in national output will increase the nations participation in international trade thus achieving a favourable trade balance. Low government interference in the economy maintains a stable money supply within the economy. By maintaining stability in money supply in the economy, inflation is avoided since it negatively impacts the economy. Increased government expenditure increases the money supply in the economy. This increases the purchasing power of individuals in a way that they can be able to purchase goods and professional services in the country. This presents a situation whereby there is much money chasing few goods within the economy. To mop up this effect the regulating financial authority will need to increase its interest rates. This means that there will be an increase in cost of borrowing that will result to inaccessibility to funds by corporate organisations. Corporations will be unable to maintain their current levels of production thus the need to lay off its workers. This situation will be characterized by increase in unemployment rates, reducing national output and economic performance. The economy will not be performing at its optimum and will have wasted on its human resource. Therefore, Government involvement in large amounts destabilises a nations economic performance. Income and Output Growth Rates. The export of manufactured products have increased since 1986 from USD6. 009m to USD124. 530m in 2006 (World Bank). The above figures indicate that manufacturing has increased over time and that the economy has shifted its focus to increasing its industrial capacity. By increasing industrial capacity ensures that the nations industry is able to satisfy the ever growing demand of the nation. Economic development requires that a nation first satisfies its population fully before embarking on the satisfaction of outside markets. The nation is required to make sure that all key markets are satisfied and that the demand of a nation is met. These means that different industries will have the capability of serving different markets. Unless a nations population is satisfied, development of an economy is difficult. New industries are formed that provides the final consumer with a product similar to those of another company to enhance competition. Competition among industries ensures the production of quality products that will give the consumer a wide range of choice. Companies will strive to out do one another in both the primary and secondary markets. The increased income and output growth rates can be attributed to the rich natural resources that are found in the nation. The natural resources are raw materials that are processed into finished products that are exported to international countries. As of 2004, its partners included the US, Korea, Singapore, Germany, Japan, Hong Kong, Indonesia and China. Among the raw products include oil, copper, timber, natural gas and iron (Malaysia, 2007). Most industries in Malaysia are processing based located mainly on the western island. They process the raw materials that are extracted into finished products. It is due to this value addition that the nation is mainly industry based and most of the population is employed. The industries in Malaysia also deal in the production of textiles and electronic equipment. They development of industries in the large scale have contributed significantly to the development of the Malaysian economy. Employment and Unemployment Percentages. Malaysias population comprises of the elderly, the middle aged and the young. From the world bank report, children legible for enrolment into primary schools stood at 96 percent for both male female students in 2006. this indicates that the Malaysian government embraces education as a factor to economic development. A skilled population is economically beneficial since the individuals will strive to utilise their skill base towards achieving their own development that will later translate to economic development. One of the key issues addressed by the UNDP towards achieving the Millennium Development Goals (MDGs)is human capacity building which means that nation should ensure that they impart skills on their citizens by way of offering courses education to all its citizens and ensuring that it is affordable for all (UNDP). A nation that has an educated population is set to reap benefits from that same population because they will aim at exercising their knowledge in the various fields of expertise and also aim at developing products that will improve on the already existing ones therefore looking for new efficient ways of production. Malaysias literacy rate stands at 89 percent as of 2006 indicating that most of the population is skilled resulting to lower unemployment cases. Malaysia is among the developing nations and is striving to attain the MDGs that will direct them to achieving a developed world status. With about 5 per cent of land is available for farming, Malaysia cannot only depend on farming and that the population must acquire some knowledge in other activities. As of 2007, Malaysias unemployment rate stood at 3. 2 per cent and inflation rate stood at 2. 1 per cent. The Phillips Curve states that inflation and unemployment are inversely related whereby high inflation results to low unemployment rates and vice versa. This is because when there is high inflation in an economy, most of the population has got some amount of money therefore resulting to some form of engagement in income generating activities. Therefore Malaysia as an economy has really tried in dealing with unemployment levels by making sure that a large part of its population is skilled. The Malaysian Government has formulated a number of policies aimed at improving its economic performance for example the New Economic Policy of 1971 (Malaysia 2007). Government Budget Activity. Government involvement in an economy should be restricted for it can have diverse negative impacts on the economy. The government, however, has got to interfere with severally in the economy since it has to provide for social amenities such as water, education, infrastructure among others for they cannot be left to the control of the private sector. When providing for these amenities, the Government gets money from the state coffers and pays the contractors among other parties that will implement development policies in the nation resulting to increased money supply. By increasing money supply, prices of products rise since the demand for the products will also increase. This will lead to increased production of products and increase national output that will result to more employment opportunities. Therefore government interference is good in the short run as it will stimulate the economic activities. However, continued government interference will hurt the economy in the long run since more money is available in the nation thus raising the prices of the products in the economy. The soaring inflation will then destabilise the nations exchange rate that will depreciate. With the depreciating of the local currency, Ringgit, imports become expensive since industries and individuals will require more money to import products thus hindering the efficiency of engaging in international trade. From the world bank report 2006 on Malaysia, 99 per cent of the population has access to clean water supply. The government has therefore given preference to the basic resources that affects the Malay in their daily lives. The report also gives the figures for Government involvement as; current revenue has decreased from 26. 8 per cent in 1986 to 21. 6 per cent in 2006 while the overall budget balance has increased from a deficit of -0. 8 per cent in 1986 to 2. 8 per cent in 2006 (Malaysia 2007). This figures indicate that the government has restricted on its involvement in the economy so as to control the economic impact caused by excessive Government involvement.
Saturday, September 21, 2019
Marketing Strategies for Luxury Brands Essay Example for Free
Marketing Strategies for Luxury Brands Essay New products are continuously launched into the luxury perfume market each year. DKNYââ¬â¢s recent addition to the perfume market is DKNY Pure. As a competitor intending to introduce a similar product into the luxury fashion brand perfume market, consumer behaviour has important implications for the design of a successful marketing strategy. This paper will outline which key factors marketers should attempt to influence in the design of a marketing strategy to introduce a new luxury brand perfume to the market. Through the use of product positioning, identifying buying groups and the target market, extensive advertising and operant conditioning marketers can manipulate the consumer decision-making process together with internal and external influences leading to consumer purchase behaviour. From a marketing perspective luxury fashion brands are defined in by features such as exclusivity, premium prices, excellent quality, distinctiveness, image, status and other aspirational characteristics (Fionda Moore, 2009). For many consumers the purchase of luxury fashion brand perfume is a high-involvement and emotional decision (Sadeghi Tabrizi, 2011). These purchases involve the use of extended decision-making with an extensive search of internal and external information and a considerable evaluation of alternative products available (Quester, Pettigrew Hawkins, 2011). An extensive advertising campaign should be used the major marketing strategy for the introduction of a new product in the luxury perfume market as it can be used to manipulate and influence consumer behaviour in a number of ways. Influencing the consumer decision-making process In order to influence the consumer decision-making process advertising can be used as external stimuli in order to trigger the first stage of the consumer decision making process; problem or need recognition. Advertising can influence consumer behaviour by affecting the consumerââ¬â¢s desired state or their existing state (Quester, Pettigrew Hawkins, 2011), prompting the identification of perceived need or desire for a product. Strategic marketing campaigns such as preannouncements (for example through media releases or samples) can be used to influence consumer anticipation, attention and desire or perceived need prior to the launch of a new product such as a luxury perfume (Schatzel Calantone, 2006). By understanding the motives which direct consumers to purchase products and the needs they are seeking to satisfy marketers can target their advertising more effectively (Kotler et al, 2007). For luxury brand perfume advertising can be used to highlight the emotional need of the consumer focussing on their ââ¬Å"esteem needsâ⬠as described by Maslowââ¬â¢s Hierarchy of Needs (Kotler et al, 2007; Quester, Pettigrew Hawkins, 2011). Emotional self-esteem needs can be effectively used in advertising luxury brand perfume to women by including messages and visuals which suggest sophistication, elegance, love and confidence. Feeling and emotion significantly shapes consumer intentions for perfume with consumers visualising, imagining, estimating and assessing the perceived feelings gained from purchasing and using the product (Sadeghi Tabrizi, 2011). Perception Marketing efforts should focus on building customers perception of both the brand and the product. Perception is a significant internal factor in a consumersââ¬â¢ purchase decision for luxury brand perfume. The perception process involves processing information from exposure, attention and interpretation with meanings recorded as memory (Kotler et al 2007). Consumer perceptions can be manipulated through product positioning; in this case introducing a new perfumeââ¬â¢s under the familiar luxury brand image will position it in the high-end perfume market creating a perception that it is a similar high-end product. Identifying the desired product position allows marketers to design strategies to develop the appropriate product image for that particular target market (Quester, Pettigrew Hawkins, 2011). Perfumes are products that are comprised of both tangible and intangible characteristics designed to satisfy consumers. Perceptions of quality can be influenced by the tangible (intrinsic) characteristics of the product; for perfume this is the bottle and the package. Through the application of beautiful and clever product design and packaging marketers can manipulate consumer perception of the perfume and its image (Sadeghi Tabrizi, 2011). Intangible (extrinsic) characteristics such as price, store image or brand image also serve to influence the consumerââ¬â¢s perception of quality (Quester, Pettigrew Hawkins, 2011). Setting higher prices for the perfume consistent with the product position and target market (Fionda Moore, 2009) and stocking the perfume in high-end department stores are strategies that can be employed to infer quality and influence consumer perceptions of status. Brand image and brand awareness Brand leveraging strategies can be employed to capitalise on the brand equity of a familiar luxury brand by giving the brand name to a new product (Quester, Pettigrew Hawkins, 2011). By introducing a new perfume using an established luxury fashion brand (either as a product or line extension) marketers can increase consumer recognition and acceptance of new products (Wu Lo, 2009) as well as making the most of the perceived intangible benefits associated with a positive brand image. A consumerââ¬â¢s positive perception of brand image of familiar luxury fashion brands has a significant effect on increasing purchase intentions of the products produced by those brands. The creation and usage of a strong brand image can be used by marketers to reduce uncertainty around product evaluation (or perceived purchase risk) whilst also increasing confidence in product quality (Sadeghi Tabrizi, 2011). Consumers view brand as an important part of a product which adds perceived value to the product (Wu Lo, 2009; Sadeghi Tabrizi, 2011). Launching a perfume under an existing familiar brand with a positive brand image can generate competitive advantage by increasing consumerââ¬â¢s interest and attention and resulting positive evaluation of a product (Fionda Moore, 2009). Further, consumers are likely to give greater attention to a familiar brand and to engage more effort in processing information about a product with a familiar brand name (Sadeghi Tabrizi, 2011). Brand personality celebrity endorsement Brand personality is a key factor in brand identity and is highly influential in the consumer decision making process as it relates to the desire to satisfy needs of self-esteem and belonging (Rajagopal, 2006). Consumers are motivated to purchase products from brands that reflect their own personality or that portrays personalities to which they aspire (Sirgy, 1982; Guthrie Kim, 2009; Spry, Pappu Cornwell, 2011). Celebrity endorsement is considered an effective strategy by marketers as a highly visible means of brand personality creation ((Rajagopal, 2006; Spry, Pappu Cornwell, 2011). Endorsement by celebrities influences consumer behaviour through attracting increased attention, generating greater brand recall and recognition (Quester, Pettigrew Hawkins, 2011; Spry, Pappu Cornwell, 2011). Dean (1999, as cited in Spry, Pappu Cornwell, 2011) further posits that celebrity endorsement can also influence a consumerââ¬â¢s perceptions of product quality and distinctiveness. The effectiveness of using a celebrity to endorse a product will be enhanced if there is congruence between the celebrityââ¬â¢s image, the product (and brand) personality and the self-concept of the target market (Quester, Pettigrew Hawkins, 2011). Market research should be conducted to determine perceptions of chosen celebrities to ensure they are credible and have attributes that coincide with the target marketââ¬â¢s needs and desires (Quester, Pettigrew Hawkins, 2011; Spry, Pappu Cornwell, 2011). For the luxury brand perfume market such attributes should be based on attractiveness and image. Learning operant conditioning Consumers learn about products through the knowledge and experience gained from purchase and consumption (Quester, Pettigrew Hawkins, 2011). By understanding how consumers learn about products marketers can include information to assist and influence the consumer decision-making process. Operant conditioning is highly effective marketing strategy used to influence consumer behaviour particularly in high involvement purchases such as perfume (Peter Nord, 1982; Quester, Pettigrew Hawkins, 2011). Operant conditioning can shape positive reinforcement for consumer purchase intention (Amor Guilbert, 2009). By trialling, using tester bottles and sample spray cards the product consumers are able to experience the perfume determine if they like the scent and if it smells good on their skin. Amor Guilbert (2009) suggest that consumers are more likely to respond to new perfume samples than established ones. Marketers can provide free samples during related purchases to encourage product trial (Amor Guilbert, 2009) which assists in capturing consumer attention and increasing product familiarity (Sadeghi Tabrizi, 2011). Placing samples in high-end fashion magazines will also assist with familiarity as well as perception of quality. Using free samples as promotional tools may also assist marketers in developing a positive attitude toward the sampled perfume product as well as toward to the brand (Amor Guilbert, 2009). External influences A consumerââ¬â¢s purchasing behaviour is also influenced by social factors. By identifying the roles in the buying process marketers can incorporate this information in the product design and advertising message decisions (Kotler et al 2007). For womenââ¬â¢s perfume the same person might play several roles in the purchasing decision. The purchaser will often be the initiator of the purchase, the decider who ultimately makes the purchasing decision and the user or wearer of the perfume (Kotler et al). Products such as perfume that are complementary to self-image are occasionally purchased by consumers as gifts for themselves. Marketers can target the fulfilment of self-gifting motivations by interspersing perfumes with other products such as cosmetics so that sales-staff might promote combining purchases (Mick, Demoss Faber, 1992). Males may also be purchasers of womenââ¬â¢s perfume as gifts. Identifying this group in the buying process will enable targeted marketing through the development of gift packs around peak gift periods such as Christmas, and Valentines Day. As shown in the above discussion through the use of extensive advertising campaigns marketers can influence consumer purchase intention through stimulating emotional need or desire for the new perfume product as well as creating attention and awareness. Identifying and establishing the product position and the roles in the buying process will enable marketers to design and direct advertising at the desired target segments. The use of an established luxury brand to launch the product can influence consumerââ¬â¢s perceptions of quality and status of the brand and by association the perfume. Whilst credible celebrities can be used in advertising campaigns to create or support brand personality influencing attention, increasing brand recognition and product recall as well as further addressing consumerââ¬â¢s desire for fulfilment of self-concept needs. Finally operant conditioning through the provision on free samples and testers will be used to shape consumer learning about the new product by positive reinforcement, as well as capturing consumer attention and further increasing brand awareness. By understanding the relevant influences of consumer behaviour to the new product marketers can incorporate this theory in order to manipulate the buying intentions and purchase behaviours of consumers and create a successful marketing campaign.
Friday, September 20, 2019
Design of Traffic Light System
Design of Traffic Light System Contents Task 1 Design Specification Design 1 Complete Block Diagram of the traffic light system State diagram Table Circuit simulation using Multisim software, Task 2 Timing Counter Task 3 Figure 13 (Main red and amber sub amber) Task 4 Remake design LIST IN Tab;e Table 1(State diagramme) Table 2(D type Flip Flop) Table 3(design cost) Table 4(compare table) List in Figure Figure 1: traffic lights system Figure 2(block diagrammed) Figure 3(Moore model) Figure 4 (main red and sub green for 10s) Figure 5 (Main amber and sub red and amber for 2s) Figure 6(main red and sub green for 10s) Figure 7 (Asynchronous counter for timing counter) Figure 8(The Design is 30s counter for main road in Asynchronous counter) Figure 9 (The Design is 20s counter for side road in Asynchronous counter) Figure 10 Main green and sub red Figure 11 (Main amber and sub red and amber) Figure 12 (Main red and sub green) Figure 13 (Main red and amber sub amber) Figure 14(remake design) Design Specification Design specification prepared for a single main and sub -road junction in rural area is given below The green light for the main road will be stay ON for 30s. The green light for the side road will be stay ON for 20s. The amber caution light will say ON for 5s between changes from green to red. Main road and side road timing countdown should display in a 7segment display. Sequence change of the traffic lights show in the Appendix I. The traffic light system for a single main road and sub road junction in a rural area. Complete Block Diagram of the traffic light system Figure 2(block diagrammed) The FSM description stands for Finite state machines. the Finite state machines are the most common controllers of machines. Its In the example Traffic light, the intersection of a main road with a side road is controlled by two traffic lights. FSM has three inputs (T1, T2 and T3) AND six outputs (Rm, Am, Gm, Rs, As and Gs) In here Rm is Red light for main road Am is Amber caution light for main road Gm is Green light for main road Rs is Red light for sub road As is Amber caution light for sub road Gs is green light for sub road T1 time is 30seconds T2 time is 20seconds T3 time is 5seconds Complete Moore model state diagram for traffic light system State diagram Table P.State N.State INPUT Outputs Gm Am Rm Gs As Rs 1 0 0 0 0 1 T1 0 1 0 0 1 1 T3 0 0 1 1 0 0 T2 0 1 1 0 1 0 T3 Table 1(State diagramme) State Assignment in Gray code Here using gray code for states State transection table Here using D type flip flops for design a circuit P.S Q1 Q0 N.S Q1+ Q0+ INPUT Gm Am Rm Gs As Rs 0 0 0 0 0 0 1 0 0 0 0 1 0 1 T1 0 1 0 1 0 1 0 1 0 1 0 0 1 1 1 1 T3 1 1 1 1 1 1 1 1 0 0 1 1 0 0 1 0 T2 1 0 1 0 1 0 1 0 0 1 1 0 1 0 0 0 T3 0 0 Table 2(D type Flip Flop) Simplified equations for the system. From Laws of Boolean Algebra ( The equations are, Circuit simulation using Multisim software, Figure 4 (main red and sub green for 10s) Figure 5 (Main amber and sub red and amber for 2s) Figure 6(main red and sub green for 10s) Timing Counter Figure 10 Main green and sub red Figure 11 (Main amber and sub red and amber) Figure 12 (Main red and sub green) Figure 13 (Main red and amber sub amber) Task 4 Item name quantity Price (Rs) 2 pin AND gate IC 5 120ÃÆ'-5=600 3 pin AND gate IC 2 120ÃÆ'-2=240 2 pin OR gate IC 1 40ÃÆ'-4=40 3 pin OR gate IC 1 40ÃÆ'-1=40 2 pin XOR gate IC 1 40ÃÆ'-1=40 Dual JK FF IC 10 100ÃÆ'-10=1000 Dual D FF IC 1 100ÃÆ'-1=100 DCD 7 Segment decoder IC 5 100ÃÆ'-5=500 7 Segment display 5 50ÃÆ'-5=250 NOT gate IC 2 40ÃÆ'-2=80 Red color LED 2 5ÃÆ'-2=10 Amber color LED 2 5ÃÆ'-2=10 Green color LED 2 5ÃÆ'-2=10 wires 20m 15ÃÆ'-20=300 Power adaptor 2 150ÃÆ'-2=300 Total 3420 Table 3(design cost) Remake design Figure 14(remake design) Compare the cost Item name Previous cost (Rs) New cost(Rs) 2 pin AND gate IC 1ÃÆ'-120 = 120 1ÃÆ'-120 = 120 3 pin AND gate IC 1ÃÆ'-120 = 120 0 XOR gate IC 1ÃÆ'- 40 = 40 0 D type FF IC 1ÃÆ'-100 = 100 1ÃÆ'-100 = 100 Decoder IC 0 1ÃÆ'-100 = 100 NOT gate IC 1ÃÆ'- 40 = 40 2ÃÆ'- 40 = 40 OR gate Ic 1ÃÆ'- 40 = 40 1ÃÆ'- 40 = 40 total 460 400 Table 4(compare table) In new design cost is less than old design Reference à ¯ÃâÃÅ"à ¯Ã¢â ¬Ã Mano M.M,Michael D.C. (2008).Digital Design.New Delhi:PHI. à ¯ÃâÃÅ"à ¯Ã¢â ¬Ã Floyd,L.(2011).Digital Fundamentals.10th ed.India:Pearson. p271- 287. à ¯ÃâÃÅ"à ¯Ã¢â ¬Ã http://www.topssrilanka.com/article24948-new-traffic-ligth-system-atbambalapitiya.html.Lasr à ¯ÃâÃÅ"à ¯Ã¢â ¬Ã http://www.sundayobserver.lk/2012/06/03/imp01.asp
Thursday, September 19, 2019
The Consequence of Marriage Essay -- Theatre, Shakespeare
The Consequence of Marriage William Shakespeare has always been an avid supporter of love as the basis of marriage. Nearly all of his plays support that: Romeo & Juliet, Much Ado about Nothing, and even more notably, A Mid Summerââ¬â¢s Nights Dream. Bernard Murstein noted in his book, Love, Sex and Marriage Through the ages, that ââ¬Å"the young should marry whom they choose and that they not bow to parental wishesâ⬠(181). Shakespeareââ¬â¢s tragic Othello reminds that parents are there to guide their children onto the right path towards a brighter future, and is a cautionary tale about the potential implications of a quick or thoughtless marriage that generally end his plays. The ramifications of a marriage outside of social rank and race along with the general social consequences are highlighted to show that marriage is more than just an ââ¬Å"I doâ⬠at the altar, and is to be avoided. When viewing Shakespeareââ¬â¢s plays in the context of the time period it is obvious that Shakespeare was more than a storyteller. His commentary was directed at the upper tier of society and addressed the need for convention to be followed. At the same time, he had to be sure that his commentary was acceptable or subtle enough so as not to offend his sponsors. In some of Shakespeareââ¬â¢s better known plays, he teaches that the course of true love never runs smooth, and marriages should not be expected to run smoothly either. Societal expectations of the time were that a woman would marry whomever the male head of the household chose for her. Men, on the other hand, were free to pursue anyone they wanted and arrange their own marriages, with an eye to strategic coupling of social status and finances (Gies 256). Romeo and Juliet showed the importance of parental approval ... ...ve for Desdemona is easily corrupt due to his own insecurities, and in the end, Othelloââ¬â¢s demise is no fault but his own. He is the man and could have said no to Desdemonaââ¬â¢s proposal of marriage, and prevented the entire debacle. The self sacrifice that he made would have mirrored the sacrifice that Elizabeth made to keep the peace in her country and build it to one of the greatest nations the world has seen. Works Cited Crowther, John, ed. ââ¬Å"No Fear A Midsummer Nightââ¬â¢s Dream.â⬠SparkNotes.com. SparkNotes LLC. 2005. Web. 2 Dec. 2011. Crowther, John, ed. ââ¬Å"No Fear Much Ado About Nothing.â⬠SparkNotes.com. SparkNotes LLC. 2005. Web. 2 Dec. 2011. Gies, Frances, and Joseph Gies. Marriage and the Family in the Middle Ages. New York: Harper & Row, 1987. Print. Murstein, Bernard I. Love, Sex, and Marriage through the Ages. New York: Springer Pub., 1974. Print. The Consequence of Marriage Essay -- Theatre, Shakespeare The Consequence of Marriage William Shakespeare has always been an avid supporter of love as the basis of marriage. Nearly all of his plays support that: Romeo & Juliet, Much Ado about Nothing, and even more notably, A Mid Summerââ¬â¢s Nights Dream. Bernard Murstein noted in his book, Love, Sex and Marriage Through the ages, that ââ¬Å"the young should marry whom they choose and that they not bow to parental wishesâ⬠(181). Shakespeareââ¬â¢s tragic Othello reminds that parents are there to guide their children onto the right path towards a brighter future, and is a cautionary tale about the potential implications of a quick or thoughtless marriage that generally end his plays. The ramifications of a marriage outside of social rank and race along with the general social consequences are highlighted to show that marriage is more than just an ââ¬Å"I doâ⬠at the altar, and is to be avoided. When viewing Shakespeareââ¬â¢s plays in the context of the time period it is obvious that Shakespeare was more than a storyteller. His commentary was directed at the upper tier of society and addressed the need for convention to be followed. At the same time, he had to be sure that his commentary was acceptable or subtle enough so as not to offend his sponsors. In some of Shakespeareââ¬â¢s better known plays, he teaches that the course of true love never runs smooth, and marriages should not be expected to run smoothly either. Societal expectations of the time were that a woman would marry whomever the male head of the household chose for her. Men, on the other hand, were free to pursue anyone they wanted and arrange their own marriages, with an eye to strategic coupling of social status and finances (Gies 256). Romeo and Juliet showed the importance of parental approval ... ...ve for Desdemona is easily corrupt due to his own insecurities, and in the end, Othelloââ¬â¢s demise is no fault but his own. He is the man and could have said no to Desdemonaââ¬â¢s proposal of marriage, and prevented the entire debacle. The self sacrifice that he made would have mirrored the sacrifice that Elizabeth made to keep the peace in her country and build it to one of the greatest nations the world has seen. Works Cited Crowther, John, ed. ââ¬Å"No Fear A Midsummer Nightââ¬â¢s Dream.â⬠SparkNotes.com. SparkNotes LLC. 2005. Web. 2 Dec. 2011. Crowther, John, ed. ââ¬Å"No Fear Much Ado About Nothing.â⬠SparkNotes.com. SparkNotes LLC. 2005. Web. 2 Dec. 2011. Gies, Frances, and Joseph Gies. Marriage and the Family in the Middle Ages. New York: Harper & Row, 1987. Print. Murstein, Bernard I. Love, Sex, and Marriage through the Ages. New York: Springer Pub., 1974. Print.
Wednesday, September 18, 2019
Bush and the Patriot Act: Declaring War on Our Rights? Essay -- Septem
Bush and the Patriot Act: Declaring War on Our Rights? à à à à When I decided to write this essay, I knew without hesitation that I would write about Washington's response to the terrorist attacks that struck New York and Washington. I did not realize how difficult such an undertaking would be, as I find myself in a somewhat an uncomfortable position. Forcing myself to confront the issues at hand means deciding which freedoms are acceptable casualties in this war and for whom.à To allow Attorney General Ashcroft to lead us into a new era of American justice that resembles McCarthyism or the internment of Japanese-Americans a half-century ago would be regrettable. à à I do not mean to imply that the US response should be weak; to the contrary, I support an expansion of this effort into Iraq. I've always had a passion for government, ours in particular. The difficulty comes from choosing how to defend that government, as it is our secular and modern way of life that is under attack. And though quoting ancient Greek is clichà ©, I find the rule of law to be reassuringly passion-free and just. My support for the ACLU stretches back ten years, which is considerable as I am only twenty years old. I also strongly support strengthening our law enforcement and intelligence agencies. The inability of the FBI, CIA, Justice Department, INS or NSC to detect the terrorist attacks before they were executed was grossly delinquent; to borrow a phrase from The New York Times' Maureen Dowd. This breach in intelligence is even more shocking when the amount of money poured into national security annually is considered. That we need added protections in this time of national crisis is indisputable. However, the manner in which we defend our wa... ...et military tribunals] at my finger tips.viii" The White House's justification has been a mere declaration that the principles of law on rules of evidence are impracticable. This sort of explanation is hardly adequate. The Bushies' policies seem to be reverting to their "trust us" mantra. Congress needs to get the government back in check. Few congressmen have yet to challenge any legislation tied to terrorism for fear of political consequences. I predict, however, that the political consequences suffered will be far greater for those who remain too afraid to speak out against the President, than for those who defend the Constitution. à Sources à i (Segev, NYTimes) ii (ACLU report) iii (NYTimes 10/26, B1). iv (Levy, WSJ, 11/27). và (NYTimes). vi (NYTimes 11/18. A1). vii (NYTimes 12/1, A1). viii (NYTimes 11/28, A25).à Ã
Tuesday, September 17, 2019
Efficiency and Inefficiency of The Global Stock Market
The perception of efficiency is middle to economics. First and foremost, the term efficiency is used to explain a market in which pertinent in sequence is confiscate into the price of monetary assets. This is the main focal point of the research appraisal here.Occasionally, though, economists use this word to refer to ready efficiency, highlight the way resources are working to make easy the operation of the market. The majority of this appraisal is concerned by the meaning, that is the informational efficiency of monetary markets. At the end of this research, we also believe the microstructure of monetary markets (Dimson, Elroy 2001, pp. 197-226).2. Practically inefficientNo doubt The efficient procedure of price strength of mind can be contrasted with an incompetent market, in which, according to the hypothesis, the pre-conditions for efficient cost (ideal information, lots of minute market participants) have not been assemble and value may be determined by issue such as insider tr ading, institutional buying power, propaganda, panic and stock market bubbles and further collective cognitive or touching behavioral biases.Generally, the majority of the mature markets, such as those of the North America, West Europe and Japan, are close to the efficient end, as those recently growing markets, such as those in South America, Eastern Europe, Africa and the majority of the Asian area, are closer to the inefficient end, or even subjugated by inefficiency.3. China as a special version footnoting this theory.China's securities market overview.Wang Sen, Li Jingping and Liu Xin from Shanxi University of Finance, China, once conducted a data-analysis, where Shanghai Stock Index used as price moving curve was compared with the payoff curve calculated through the weighted average of stocks' payoffs.An interesting finding was that, even though the Index moved violently, the corresponding payoff level was fairly stable. In another word, it seems that the price movement of a s tock has nothing to do with its immanent value, which is against classic finance theories (Elroy and Massoud Mussavian 2000).Macro-EconomicallyNeedless to say, a country's securities market is far more delicate and sensitive than the overall economy of that country. That could be the reason why the securities market is called the forerunner or the indicator of national or, nowadays, global economy.And that could also be the reason why centralized management in a planned economy won't work for securities market (even if it does for the whole economy for the time being): the system is just too complicated and chaotic to be centrally or planned.All these largely explain one of the weird things in China: the securities market has lost its identity as the indicator for the national economy. For the last twenty years, China's economy has developed at an incredibly fast pace, while its securities market also deteriorates with ridiculously huge downfalls.As shown the charts below, China's e conomy growth rate has been gradually decreasing from as high as 14.2% in 1992 to 7.1%-8% after 1998. However, the stock index as shown below is more like suffering from a crash landing on thin ice. It's radically a different story than the country's economic growth tells.
Monday, September 16, 2019
Development Of Greek Philosophy
Greek Philosophy emerged because of the following thinkers: Thales, Pythagoras, Heraclitus, Parmenides, Socrates, Plato, and last but not least, Aristotle (Bennagen, 2000). This paper entitled, ââ¬Å"Development of Greek Philosophyâ⬠intends to describe the thinkers involved, key schools, as well as their ideas. First stop is Thales, who emerged in 610 to 546 BC (Bennagen, 2000). He is said to be the first philosopher because of the fact that he motivated people to think that the world in all made up of water (Bennagen, 2000).Second is Pythagoras, who came about in 582 to 507 BC (Bennagen, 2000). For Pythagoras, number is the most essential thing in life (Bennagen, 2000). It was him who established the relationship between angles and sides of the right triangle which he later technically referred to as the Pythagorean Theorem (Bennagen, 2000). Third is Heraclitus, who presented itself from 535 to 475 BC (Bennagen, 2000). For him, everything continuously changes and that stabili ty does not exist (Bennagen, 2000). True enough because even those stable things, as they appear to be, are not (Bennagen, 2000).Examples include neutrons, electrons, and quarks (Bennagen, 2000). Fourth is Parmenides, who made himself known from 610 to 547 BC (Bennagen, 2000). He was the founder of the school known as ââ¬Å"Eleaticsâ⬠(Bennagen, 2000). For him, change is unreal, it is merely an illusion (Bennagen, 2000). In addition to that, for him, reality or ââ¬Å"beingâ⬠is everlasting, fixed, and undivided (Bennagen, 2000). He warns us that we should not always trust our senses when it comes to what reality is (Bennagen, 2000). Fifth is Socrates, who emerged in 469 to 399 BC (Bennagen, 2000).Socrates focused on the health of the soul and thus, he motivated people to look further into ethics or morality instead of nature as the first four philosophers were deeply interested in (Bennagen, 2000). Sixth is Plato (427 to 347 BC) who believes that reality is divided into two the perfect and imperfect (Bennagen, 2000). He also presented his ideal state and ideal leader to show his definition of reality (Bennagen, 2000). Last but not least is Aristotle who went to study things further using his senses, consequently discovering science itself (Bennagen, 2000). Reference Bennagen, P. (2000). Social, Economic, and Political Thought. Quezon City: UPOU.
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